Potential BTC Double Bottom? *EARLY CALL*
Updated
I'm adding this to my *MADMAN* series because it's too early to call. If confirmed though, I see a pattern similar to this happening...GOOD LUCK!
Note
BTC is coming out more bullish than expected by making it past the first resistance mark. It did it's normal thing by ignoring a bearish rising wedge by breaking up. We are now exiting a Bull Flag position, so I see It possibly going down from this 13k hit (as BTC tends to do opposite of these patterns) and bounce around 11k if we're to remain bullish at this time.
Note
It looks like we could be going for a ride down. We still have a good possibility of double bottoming at the called spot. Don't panic, even though this was a good example of a dead cat bounce, we are still bullish. I see an absolute floor around 8k if we don't double bottom at our target.Note
We still remain bullish from the early call spot. Even though the pattern above is not holding, we are still in a bull trend.Trade closed manually
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.